ARTICLE | Financial News

Acton raises $15 million

January 7, 2010 3:17 AM UTC

Acton Pharmaceuticals Inc. (Marlborough, Mass.) raised $15 million in a series A round led by Sequoia Capital. Acton also licensed exclusive, worldwide rights to Aerospan flunisolide from Forest Laboratories Inc. (NYSE:FRX). FDA approved the hydrofluoroalkane (HFA) formulated inhaled corticosteroid in 2006 for asthma, but it has not yet been marketed. Acton plans to launch Aerospan in the U.S. in 1Q11. Forest will receive an undisclosed upfront payment and is eligible for milestones and royalties. ...